Tributary Capital Management LLC Takes $1.23 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)


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Tributary Capital Management LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,700 shares of the oil and natural gas company’s stock, valued at approximately $1,227,000.

Several other hedge funds also recently modified their holdings of FANG. Aurora Investment Counsel boosted its position in shares of Diamondback Energy by 0.6% during the 4th quarter. Aurora Investment Counsel now owns 28,482 shares of the oil and natural gas company’s stock valued at $1,379,000 after purchasing an additional 160 shares in the last quarter. Sippican Capital Advisors boosted its holdings in Diamondback Energy by 0.9% in the first quarter. Sippican Capital Advisors now owns 23,086 shares of the oil and natural gas company’s stock worth $1,697,000 after acquiring an additional 215 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in Diamondback Energy by 0.5% in the first quarter. Royal London Asset Management Ltd. now owns 61,521 shares of the oil and natural gas company’s stock worth $4,521,000 after acquiring an additional 289 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Diamondback Energy in the first quarter worth approximately $26,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Diamondback Energy by 88.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the oil and natural gas company’s stock worth $48,000 after acquiring an additional 469 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 1,900 shares of the stock in a transaction on Friday, March 19th. The shares were sold at an average price of $77.24, for a total transaction of $146,756.00. Following the transaction, the chief financial officer now directly owns 67,043 shares in the company, valued at approximately $5,178,401.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.

FANG has been the topic of several recent research reports. Susquehanna increased their price target on Diamondback Energy from $79.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday, February 24th. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “strong-buy” rating and set a $57.00 target price on the stock in a report on Thursday, December 31st. Citigroup raised their target price on Diamondback Energy from $82.00 to $100.00 in a report on Tuesday, March 23rd. Roth Capital raised their target price on Diamondback Energy from $49.00 to $84.00 and gave the company a “buy” rating in a report on Monday, March 1st. Finally, Royal Bank of Canada restated a “buy” rating on shares of Diamondback Energy in a report on Sunday. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Diamondback Energy presently has an average rating of “Buy” and an average target price of $78.29.

NASDAQ:FANG opened at $75.26 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.45 and a quick ratio of 0.43. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of -2.79, a price-to-earnings-growth ratio of 0.59 and a beta of 2.59. Diamondback Energy, Inc. has a one year low of $23.63 and a one year high of $88.75. The business has a fifty day moving average price of $77.99 and a 200-day moving average price of $55.15.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Sunday, February 21st. The oil and natural gas company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.01. Diamondback Energy had a positive return on equity of 5.10% and a negative net margin of 135.48%. The business had revenue of $769.00 million during the quarter, compared to analyst estimates of $768.65 million. During the same quarter in the prior year, the business posted $1.93 EPS. Diamondback Energy’s revenue for the quarter was down 30.3% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 3.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 11th. Investors of record on Thursday, March 4th were paid a dividend of $0.40 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 2.13%. The ex-dividend date was Wednesday, March 3rd. Diamondback Energy’s dividend payout ratio (DPR) is currently 23.09%.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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